Canada Life today officially launched Canada Life Securities Inc., a wholly owned subsidiary of The Canada Life Assurance Company.

CLSI was created to serve the firm’s group retirement and investment services clients. CLSI will execute mutual fund, pooled fund, GIC and company stock transactions for its trust-based clients. These clients were gained through Canada Life’s acquisition of TD Canada Trust’s group retirement business in December of 2000.

“When we acquired the business in December 2000, part of our strategy was to continue to offer trust-based products, rather than integrating them into our insurance product offering. By taking this approach both our insurance-based and our newer trust-based clients have access to a wider range of group retirement and investment products and services,” said Alex Harvey, vice-president of group payout and annuities. “We believe this gives Canada Life a competitive advantage in the marketplace.”

“I envision a tremendous future for our group retirement and investment services business,” said Bill Acton, executive vice-president and director, Canadian division. “Combining the safeguards and capabilities inherent in securities-based products and services with the flexibility and efficiency of group savings products makes for an excellent customer value proposition. Building this new capability will contribute to the growth and prosperity of
Canada Life for years to come.”

CLSI is a member of the Investment Dealers Association of Canada.